NAME: DATE: Business: Financial Services, Credit and Borrowing. Business. Financial Services, Credit and Borrowing

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1 Business Financial Services, Credit and Borrowing It is not necessary to carry out all the activities contained in this unit. Please see Teachers Notes for explanations, additional activities, and tips and suggestions. Theme Financial Services, Credit and Borrowing Levels Language focus Learning focus Activity types A1 B1 Key vocabulary, word identification, sentence structure, extracting information from text, writing text, grammar. Using business textbooks and accessing curriculum content and learning activities. Matching, word identification, structuring sentences and text, cloze, multiple choice, reading comprehension, categorising vocabulary, recording learning, developing a learning resource. Acknowledgement Extracts from Business Studies Revision Notes for Junior Certificate (4 th edition) J. F. O Sullivan. Gill & Macmillan. We gratefully acknowledge Gill & Macmillan for the right to reproduce text in some of these activities. Learning Record A copy of the Learning Record should be distributed to each student. Students should: 1. Write the subject and topic on the record. 2. Tick off/date the different statements as they complete activities. 3. Keep the record in their files along with the work produced for this unit. 4. Use this material to support mainstream subject learning. 1

2 Making the best use of these units At the beginning of the class, make sure that students understand what they are doing and why. We are doing the exercise on page (12) to help you to remember key words / to help your writing skills / to help with grammar etc. You can create your personal teaching resource by printing these units in full and filing them by subject in a large ring binder. Encourage students to: o Bring the relevant subject textbooks to language support class. It does not matter if they have different textbooks as the activities in these units refer to vocabulary and other items that will be found in all subject textbooks. These units are based on curriculum materials. o Take some responsibility for their own learning programmes by: Developing a personal dictionary for different subjects, topics, and other categories of language, on an on-going basis. This prompt is a reminder. Recording what they have learnt on the Learning Record, which should be distributed at the start of each unit. Keeping their own files with good examples of the work produced in language support for different subjects and topics. This file will be an invaluable learning resource in supporting mainstream learning. Don t forget that many of the activities in these units are suitable as homework tasks, for self-study, or for use in the subject classroom with the agreement of the subject teacher. Indicates that answers may be found at the end of the unit. 2

3 Keywords The list of keywords for this unit is as follows: Nouns account address agreement amount application assurance balance bank banking bankruptcy barter benefits bid bonds borrower branch buildings business buyer cash charges cheque coins collateral company consumer credit credit card currency customer date debit deposit details dividend draft duration euro exchange executor facility fees format holder instalment interest investor item laser lender limit loan lodgement money moneylender mortgage occupation overdraft payee payment period rate reconciliation records repayments savings security seller services shares signature slip statement sterling telephone term transactions transfer transmission treasurer trustee union verification Adjectives annual current direct financial fixed foreign immediate medium normal rental safe short Verbs borrow calculate compare compete credit demand earn explain guarantee help hire identify increase invest lease lend lodge offer order pay purchase recommend rent repay require save sell send show specify state suggest terminate withdraw 3

4 Vocabulary file 1 This activity may be done in language support class or in the mainstream subject classroom. Word Meaning Word in my language overdraft money payments exchange calculate invest Get your teacher to check this and then file it in your folder so you can use it in the future. 4

5 Vocabulary file 2 This activity may be done in language support class or in the mainstream subject classroom. Word Meaning Word in my language credit security balance interest instalment bankruptcy Get your teacher to check this and then file it in your folder so you can use it in the future. 5

6 Level: all Type of activity: whole class Focus: vocabulary, spelling, dictionary, writing Suggested time: 10 minutes Activating students existing knowledge Use a spidergram to activate students ideas and knowledge on the key points in this chapter. See Teachers Notes for suggestions. Possible key terms for the spidergram: Borrowing Credit Invite students to provide key words in their own languages. Encourage dictionary use. Encourage students to organise their vocabulary into relevant categories (e.g. meaning, nouns, keywords, verbs etc.). Students should record vocabulary and terms from the spidergram in their personal dictionaries. 6

7 Level: A1 Type of activity: pairs or individual Focus: vocabulary, spelling, dictionary use Suggested time: 30 minutes Working with words 1. Tick the correct answer a) This is a business card. b) This is a credit card. c) This is a cheque book. d) This is a cash machine. a) This is a business card. b) This is a credit card. c) This is a cheque book. d) This is a cash machine. 2. Find these words in your textbook. Write your own explanation for these words. Then write the word in your own language. Use your dictionary if necessary. Word credit borrow debt interest Page in textbook Explanation In my language Check that these key words are in your personal dictionary. 7

8 Level: A1/A2 Type of activity: pairs or individual Focus: vocabulary, basic sentence structure Suggested time: 30 minutes Picture Sentences 1. Tick the correct answer a) This is cheque book. b) This is a bank balance. c) This is a newspaper. A loan for a house is called: a) a bank loan b) a mortgage c) a short term loan. a) This is cash. b) These are cheques. c) These are menus. 2. Put these words in the correct order to form sentences. can be used/ credit cards/ short-term borrowing/ for have to be/ medium term loans/ within 5 years/ paid back is / a house/ a long-term loan/a mortgage/ used to buy 8

9 Level: A1/A2 Type of activity: pairs or individual Focus: word identification, vocabulary Suggested time: 20 minutes Odd One Out 1. Circle the word which does not fit with the other words in each line. Example: apple orange banana taxi cash cheque dog payments Laser girl card credit account deposit savings roses crying sending lending investing agreement purchase stars hire renting laughing leasing borrowing collateral lender security holidays bee loan mortgage bank 2. Find these words in your textbook. Then put them in short sentences in your own words. Use a dictionary if necessary. to borrow to rent to purchase to save to withdraw Check that these key words are in your personal dictionary. 9

10 Level: A1/A2 Type of activity: individual Focus: key vocabulary Suggested time: 20 minutes Keywords 1. Fill in the missing letters of the keywords listed below. On the line beside each word, write whether the word is a noun, an adjective or a verb. cur n_y mor ag_s fi nc_al gua nt_ed mon le ers ter na_e 2. Write as many words as possible related to Financial Services, Credit and Borrowing. You have 3 minutes! 10

11 Level: A1 / A2 Type of activity: pairs or individual Focus: key vocabulary, pronunciation, spelling Suggested time: 20 minutes Unscramble the letters 1. Extra money that you pay back for a loan TEINSTER Answer 2. When you pay back a loan bit by bit NSTAINETSLM Answer 3. You can take more money from the bank than you actually have DERTFROVA Answer 4. To make something bigger than it was before SCEINAER Answer Solve the secret code English A B D E G I M N O R S U W Code V X Y F T Q K P L E J H C example: JHKKFE = SUMMER XLEELCQPT QJ YVPTFELHJ! = 11

12 Level: A2 / B1 Type of activity: pairs or individual Focus: reading comprehension, extracting meaning from text, vocabulary Suggested time: 30 minutes Completing sentences Fill in the blanks in these sentences. Use words from the Word Box below. CREDIT CARD (a) A is given a card and a credit limit. (b) Goods and services can be purchased or bills up to this limit. (c) Customer receives a monthly. Failure to clear the account results in high interest charges. (d) Examples are Mastercard and Visa. (e) Widely accepted in shops, garages, hotels, restaurants. (f) Best way to use a credit card is to settle account in full each month - no is incurred. (g) Bookings can be made over the telephone and Internet using the. Word Box: paid card statement customer interest 12

13 Level: A2 / B1 Type of activity: individual Focus: topic information, reading comprehension, multiple choice Suggested time: 40 minutes Multiple choice Read the text below and choose the best answers. An Post - Sending Money Home or Abroad An Post offers a variety of secure methods for sending money nationally and internationally. A person can send money nationally by postal order and internationally by eurogiro, sterling draft and Western Union. (1) SENDING MONEY NATIONALLY Postal Money Order You can pay bills, shop by mail order, donate to charity and send monetary gifts by post. Just go to your local post office to carry out the transaction. (2) SENDING MONEY INTERNATIONALLY (a) Eurogiro Suitable if you are sending money to Europe. You transfer the money into the currency of the receiving country. It is paid to the recipient in cash or lodged into a bank account. It is cost-effective, and the service is carried out at most post offices. Transfers are usually completed within four working days. (b) Sterling Draft Service Suitable for making sterling draft payments to many countries worldwide. The sterling draft is lodged to the recipient's bank account. (c) Western Union Money Transfer Suitable if you need to send money quickly. Recipients pick up their money in local currency in minutes. Global coverage - no bank account is required. The recipient picks up the money at a local Western Union branch. The service is carried out at selected post offices nationwide. 1. When you want to send money internationally, what can you use? a) the school b) An Post (Irish post office service) c) the library d) the shop 2. Where can you send money with a eurogiro? a) USA b) nationally c) Australia d) Europe 3. What should you use if you need to send money quickly? a) eurogiro b) Western Union c) sterling draft service d) a letter 4. Should a sterling draft be lodged to the sender s bank account? a) Yes b) No 5. Do you need to have a bank account to use Western Union? a) Yes b) No 13

14 Level: A2 / B1 Type of activity: individual Focus: vocabulary, structure, planning and creating text Suggested time: 40 minutes Writing Use your textbook to help you to write at least 6 sentences about Financial Services, Credit and Borrowing. Ask your teacher to check your work, and then file it in your folder. Note - writing this out will help you to remember it! Financial Services, Credit and Borrowing Have you ticked this activity on your Learning Record? 14

15 Level: B1 Type of activity: individual Focus: verbs, sentence construction Suggested time: 30 minutes Grammar point Verbs (verb: a word that refers to an action, for example: to make, to work) 1. Circle the ten verbs in the box below. cheque repay charge office borrow rent money coin currency increase withdraw pay at lodgement statement buy invest card investment save 2. The following sentences are taken from your textbook. However, some of the verbs are missing. Select a suitable verb from the box above. (Think carefully about the form of the verb necessary for the sentence) Credit involves something now and for it later. When a large sum of money, some security may be needed. The level of interest is called the interest rate. You must show that you can the loan. Not all loans will be granted, and we often have to money first. 3. Now it s your turn! Go to your textbook and the chapters on Financial Services, Credit and Borrowing. Rewrite 5 sentences from the textbook, but leave gaps where the verbs should be. Swap sentences with another student and check and correct one another s work. 15

16 Levels A1 and A2 - Alphaboxes Using your textbook, find one word beginning with each of the letters of the alphabet. Write the word in the relevant box. You could also write the word in your own language. a b c d e f g h i Do you understand all these words? j k l m n o p q r Get your teacher to check this, then file it in your folder so you can use it in the future. s t u v w xyz 16

17 Word search Find the words from the list below. When you have found all the words, write each word in your own language. ACCOUNT ATM BALANCE BANK BANKING BRANCH CARD CASH CHEQUE CHEQUES CREDIT CURRENT DEBIT DEPOSIT DRAFT EXCHANGE FEES INTEREST LODGMENT MONEY OVERDRAFT PAYEE PAYMENTS SAFE SAVINGS STATEMENT TRANSFER 17

18 Play Snap Make Snap cards with 2 sets of the same keywords. See Notes for teachers for ideas about how to use the cards. overdraft overdraft loan loan duration duration 18

19 application application deposit deposit repay repay 19

20 compete compete calculate calculate increase increase 20

21 leasing leasing short short financial financial 21

22 Answer key Working with words, page 8 1. b, d Picture sentences, page 9 1. b, b, a 2. Credit cards can be used for short-term borrowing. Medium-term loans have to be paid back within 5 years. A mortgage is a long-term loan used to buy a house. Odd one out, page 10 Dog, girl, roses, crying, stars, laughing, holidays, bee Keywords, page 11 Currency (noun), mortgages (noun), financial (adjective), guaranteed (verb or adjective), moneylenders (noun), terminate (verb) Unscramble the letters, page 12 Interest, instalments, overdraft, increase Secret Code: Borrowing is dangerous! Completing Sentences, page 13 CREDIT CARD (a) A customer is given a card and a credit limit. (b) Goods and services can be purchased or bills paid up to this limit. (c) Customer receives a monthly statement. Failure to clear the account results in high interest charges. (d) Examples are Mastercard and Visa. (e) Widely accepted in shops, garages, hotels, restaurants. (f) Best way to use a credit card is to settle account in full each month - no interest is incurred. (g) Bookings can be made over the telephone and Internet using the card. Multiple Choice, page b, 2. d, 3. b, 4. a, 5. b Grammar Point, page Verbs: repay, charge, borrow, rent, increase, withdraw, pay, buy, invest, save 22

23 2. Credit involves buying something now and paying for it later. When borrowing a large sum of money, some security may be needed. The level of interest charged is called the interest rate. You must show that you can repay the loan. Not all loans will be granted, and we often have to save money first. Word Search, page 18 23